Bitcoin (BTC) billionaires Winklevoss have decided to bet on DeFi; they decided to capitalize on the fungus by listing 15 new DeFi cryptos on Gemini, after Gemini started with just 3 cryptos in the category just a few weeks ago. The tide is turning in favor of crypto projects, which no longer have to belly dance in front of the exchanges to get a place.
It’s up to the exchanges to court cryptos!
Coinbase is one of the first exchanges to start adding DeFi tokens to its platform.
Gemini is following suit by listing 15 new DeFi tokens in a few days.
10 of them have just entered the platform: Swing (BALL), Curve (CRV), Ren Network (REN), Synthetix Network (SNX), Uma (UMA), Uniswap (UNITED), and Yearn.Finance (YFI).
Gemini already offered on-call services for the other 5, which are now available for trading: Decentraland (MANA), Kyber Network (KNC), Maker (MKR), Storj (STORJ), and 0x (ZRX).
The offer of Gemini was extremely limited a few months ago, only 9 tokens were available for trading: Bitcoin (BTC), Ether (ETH), Litecoin (LTC), Bitcoin Cash (BCH), Zcash (ZEC), Basic Attention Token (BAT), Chainlink (LINK), Dai (DAI) and Orchid (OXT).
This listing race marks a turnaround in a process that was previously controlled by exchanges : Crypto projects had to approach the exchanges on which they wanted to be listed and not the other way around.
At your peril !
An official press release from Gemini describes DeFi as a revolution in motion, offering the possibility of creating an alternative system to the traditional financial system: Gemini notes in particular the character without intermediary and without central authority of the DeFi.
The exchange also asserts that DeFi’s promises are in line with their guideline, Which is to provide their users with more choice, independence and opportunity.
Gemini However, it warns its users of the risks associated with DeFi protocols: the listing of DeFi cryptos is not a guarantee, each user assumes the risks he takes by using them.
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. Your capital is at risk.
Will DeFi be the investment of the next decade, even ahead of Bitcoin? The Dharma project should democratize the sector, the exchanges are also playing along. It is now up to Ethereum to prove that its developers are able to set up an architecture at the height of such DeFi.
Litecoin, welcome in the Silver Age